Investors Eye Vornado Realty Trust’s Preferred Shares Amid Strong Yields

Vornado Realty Trust’s Preferred Shares Yield Over 6.5%

In Thursday’s trading, Vornado Realty Trust’s 4.45% Series O Cumulative Redeemable Preferred Shares (Symbol: VNO.PRO) yielded above 6.5%, based on an annualized quarterly dividend of $1.1125. On the same day, shares were trading as low as $17.00. Compared to the “REITs” preferred stock sector, which has an average yield of 8.64%, VNO.PRO’s yield stands out. Currently, VNO.PRO trades at a substantial 31.36% discount to its liquidation preference, while the average discount in the “REITs” category is 27.23%.

The chart below illustrates the one-year performance of VNO.PRO shares in comparison to Vornado’s common shares:

Dividend History Revealed

Displayed below is a chart chronicling the historical dividend payments for Vornado Realty Trust’s 4.45% Series O Cumulative Redeemable Preferred Shares:

On Thursday, Vornado Realty Trust’s 4.45% Series O Cumulative Redeemable Preferred Shares (Symbol: VNO.PRO) experienced a rise of approximately 0.6%. Meanwhile, the common shares (Symbol: VNO) increased by about 1.9%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.